Truck finance
Prime movers, rigids, tippers and trailers. Financed around how they earn.
Your first truck on a new ABN, or the next one for a fleet that's working flat out. We know which lenders back owner-drivers, which ones want to see a contract, and how to shape the term and balloon so the repayments sit under what the truck brings in.
Who we help
Three kinds of operator, three different lender lists
Owner-driver, first truck
New ABN, no financials yet, maybe a contract waiting on the truck. Some lenders will back that with a deposit, industry experience or a signed work agreement. We go to those lenders first, not the ones that will say no.
Established operator, adding or replacing
Two years' trading or more opens the sharper rates and the lighter paperwork. We structure the term and balloon around the truck's working life and resale, so you're not still paying for a truck you've stopped running.
Subcontractor with the work lined up
A contract or a letter from the company you'll cart for changes how a lender sees the deal. We present it properly, and we time the approval so the truck is on the road when the work starts.
What we finance
If it carries a load, it's in scope
- Prime movers
- Rigid trucks and pantechs
- Tippers and tilt trays
- Semi, B-double and dog trailers
- Refrigerated and curtain-siders
- Light commercials and vans
- Used trucks, dealer or private
- Auction purchases
How a truck loan is usually put together
Chattel mortgage, lease or rentalChattel mortgage is the common choice for a business that is registered for GST: you own the truck, and the GST on the price is usually claimable in your next activity statement. Your accountant confirms what suits your books.
Term and balloonTerms commonly run three to five years. A balloon at the end lowers the monthly payment and is set against what the truck should be worth then, not a number pulled from the air.
Payments that follow the workSome lenders allow a lower start while a contract ramps up, or seasonal patterns for harvest and civil work. We ask, so you don't have to know which ones.
FAQ
Common questions
I only got my ABN last month. Can I still get a truck?
Often, yes. Lenders that work with new operators look at your experience in the industry, a deposit, and whether there's a contract or regular work behind the truck. The rate is usually higher than for an established business, and we tell you that up front rather than after you've fallen for a truck.
Can I buy a used truck from a private seller or at auction?
Yes. The lender will want an inspection or valuation and clear title, and most set a limit on how old the truck can be at the end of the term. We check the truck's age against the term before you bid or pay a deposit.
Do I need full financials?
Not always. Low doc options use bank statements or an accountant's letter instead, particularly for replacement trucks and for operators with a trading history. Full financials usually unlock a better rate, so if you have them, we use them.
How quickly can it be done?
It depends on the lender and how complete the paperwork is. Tell us the date you need the truck working and we plan the approval and settlement around it, including the inspection and insurance the lender will want in place first.
What does it cost to use a broker?
The lender pays us a commission when the loan settles. On some asset finance we also charge an origination fee of up to $1,990, which is set out in a credit quote before you commit to anything, along with whether it is paid up front or added to the loan. Full details are in our credit guide.
Found the truck? Find out what it costs to run, not just to buy.
Five minutes online, then a call from us with real options. Nothing goes to a lender until you say so.